European property sees upturn

European commercial property investment rose to its highest level since the start of the financial crisis in the fourth quarter of last year, according to research from real estate consultancy CB Richard Ellis. Over €25.7bn (£22.7bn) of deals were completed in the period, up 42 per cent on the third quarter of 2009 and the highest level since the collapse of investment bank Lehman Brothers in September 2008. The UK easily took the lion’s share of the new deals, which increased by 64 per cent in the second half of last year.